The automobile segment witnessed YoY growth for the first time this fiscal year.
According to the data released by the Federation of Automobile Dealers Associations (FADA), vehicle registrations increased by 11% in December 2020. Overall sales stood at 18,44,143 units, compared to 16,61,245 units in December 2019.
The automobile segment witnessed YoY growth for the first time this fiscal year. A good crop season, better offers in 2W segment, new launches and a fear of price increase in the month of January kept the demand high.
The CV segment continued to see demand even though the segment saw a YoY de-growth of 13.5%. Increased intra-city goods movement continued to help SCV’s outperform M&HCV segment.
The tractor segment continued to grow for the 6th straight month.
2-wheeler sales increased by 11.88% to 14,24,620 units compared to the same month previous year.
3-wheeler sales were down by 52.75%. 27,715 units were sold compared to 58,651 units in December 2019.
Passenger vehicle sales increased by 23.99%. 2,71,249 units were sold compared to 2,18,775 units in December 2019.
Commercial vehicle sales dropped by 13.52%. 51,454 units were sold in December 2020 compared to 59,497 units in the same month previous year.
Tractor sales increased by 35.49% to 69,105 units.
Team-BHP’s detailed analysis of the December 2020 sales figures.
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